Myrtle Beach Real Estate

Following is an except from a recent article in Forbes Magazine..  If you would like to read the complete article write us at [email protected]

If you’re planning to buy a home do it now, because prices are going up for the next few years, especially in Hilton Head and Charleston. Investments in single-family rentals have good potential throughout the area, but best in Myrtle Beach.

Forbes Magazine contributor Ingo Winzer

The 24 story Ocean 22 Hilton Grand Vacations Club will be among the tallest along the Grand Strand and plans to have first guests in early July.  In June they will begin moving furniture, training staff and putting finishing touches on the timeshare units.  The 220 unit timeshare tower will have indoor/outdoor pools and fitness center. 

Ocean 22 is one of three new towers in the works for Myrtle Beach's oceanfront.  Homewood Suites Oceanfront Resort & Conference Center plans to open in Spring 2016 and another tower at 17th Ave North is proceeding through the city's approval process.

Single family home sales increased 12 perent in January compared to the same month last year.  Mortgage rates have been near or at record lows.  Last week, the average rate on a 30 year fixed rate mortgage was at 3.95 percent.

Construction has begun  on the new Zip Line attraction at the Pavilion site.  The experience will include a high tech braking system and a zipline that can carry six people at once.  People looking for even more of a thrill can also try the "free fall express".  You will go up 65 feet and walk off the tower straight down.  All right near the newly renovated Peaches Corner which reopens February 2.

Myrtle Beach will have nonstop flights to Dallas-Fort Worth starting in May.  The flights will be three times a week starting May 3.  They will run thru the summer, though airport officials say there is potential to extend them to 10 months a year.  The flights will run on Tuesday, Thursday and Sunday leaving Myrtle Beach at 8:10pm and arriving10:15 pm. The return flights leave 3:50pm and arrive in MYR at 7:30pm.  Spirit Airlines is the carrier.

MSN.com lists Myrtle Beach as one of the ten hottest vacation real estate markets.  Based on sales figures from assessment company Clear Capital, the website says Myrtle Beach is one of the best places to find a deal on a vacation home.
MSN.com used figures from Clear Capital to figure hot how much prices have fallen in popular vacation spots. 
In Myrtle Beach, prices have dropped 34.5% since the peak in 2006.  However, since 2009, prices have only dropped one percent, which shows prices have steadied.  That price drop, the stabilization, and the potential for prices to rise again were major factors that helped land Myrtle Beach on the list.
Source- WMBF News

The real estate market improved in the first half of 2010.  Single family homes grew 32 Percent compared to 2009 and condo sales rose 38 percent.  2,047 single family homes sold and 1,740 condos in the first half of this year.  47% of sales were purchased with cash.